TMQ Stock Soars 20% After Issue Of Ambler Road Permits Following Presidential Decision

• Trilogy Metals said that the Ambler Access Project is a proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects to the Dalton Highway.
• The firm said on Friday that the issuance of these permits follows the October 6 Presidential decision under Section 1106 of the Alaska National Interest Lands Conservation Act.
• In early October, the U.S. agreed to buy a 10% stake in Trilogy Metals.

Trilogy Metals (TMQ) shares jumped nearly 20% after the company announced that the Alaska Industrial Development and Export Authority had executed the Right-of-Way permits for the Ambler Access Road.

The company said that the permits have been executed with the U.S. Army Corps of Engineers, the National Park Service, and the Bureau of Land Management, formally re-establishing the federal authorizations required to advance the road project.

Trilogy Metals said that the Ambler Access Project is a proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects to the Dalton Highway. This project would enable the advancement of exploration and development at the Ambler Mining District in Northwest Alaska, home to some of the world's richest known copper-dominant polymetallic deposits, the company said.

The company said that the issuance of these permits follows the October 6 Presidential decision under Section 1106 of the Alaska National Interest Lands Conservation Act, directing federal agencies to re-issue the authorizations necessary for the construction and operation of the Ambler Access Road.

The executed permits restore the 50-year right-of-way across federally managed lands originally granted in 2020, the company said.

U.S. Stake In Trilogy Metals

In early October, the U.S. agreed to buy a 10% stake in Trilogy Metals. The Trump administration reached a deal to purchase 8.2 million shares of the company from Australia’s South32 at $2.17 each.

As part of the agreement, the U.S. also secured warrants to acquire an additional 7.5% stake in the Vancouver-based firm. The transaction is part of a larger $35.6 million investment package aimed at supporting critical energy initiatives in Alaska.

CEO Tony Giardini’s View

Tony Giardini, CEO of Trilogy Metals, said that the execution of these federal permits marks a pivotal milestone for the Ambler Road and the State of Alaska.

“The road will provide access to a mining district that has the potential to strengthen the United States’ ability to secure domestic supplies of copper and other critical minerals essential to national defense, energy infrastructure, advanced manufacturing and the rapid growth of AI data centers,” he said.

Retail sentiment on Trilogy remained unchanged in the ‘bearish’ territory, with message volumes at ‘low’ levels, according to data from Stocktwits.

Shares of Trilogy Metals have gained nearly 410% this year and soared 809% in the last 12 months.

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